Duke University has received a $5 million award from The Duke Endowment for professorships and scholarships at The Fuqua School of Business.

This award and related fundraising will motivate and ensure the top-tier business school can continue to compete for the best and brightest students.

“We are grateful to The Duke Endowment for this award that will enhance Duke’s ability to attract and support outstanding faculty and students who will make an impact across the global business community.” — Vincent E. Price, Duke University President

The award included a match opportunity for donors—called The Provost’s Challenge Fund for Fuqua—that raised an additional $12.8 million for the school. 

As of fall 2025, Duke matched three $2.5 million gifts from donors with $1 million in Duke Endowment funds, resulting in three new full professorships at a total value of $10.5 million. With the remaining $2 million from The Duke Endowment, Duke matched each $100,000 donor commitment to a new or existing scholarship fund with $50,000 from The Duke Endowment, raising an additional $5.3 million for business school scholarships in perpetuity. Combined, this effort resulted in $17.8 million total for Fuqua professorships and scholarships.

The Fuqua School of Business currently has 105 faculty members, most of whom are tenured or tenure-track and teach across a large portfolio of educational programs, including three MBA programs, a Master of Management Studies program, and the school’s Master of Quantitative Management program. However, among the faculty, there are only 48 endowed full professorships, well below peer schools that can use endowed professorships as a recruitment tool.

“We want to be able to attract and retain scholars who will continue to raise Fuqua’s profile for groundbreaking research and prospective students for which Fuqua is known,” said Mary Frances Luce, Fuqua’s interim dean. “Because our faculty are so well regarded in the academic community, the school is constantly at risk of losing both ambitious new faculty members and seasoned scholars to peer business schools that are significantly better resourced.”

Fuqua is known for its interdisciplinary scholarship. For example, the school is a leader on Duke’s campus in the study of artificial intelligence, big data, entrepreneurship and innovation, as well as on the impact business can and will have addressing the climate crisis.

The additional endowed scholarships will allow Fuqua to expand support for its more than 2,000 students across 10 different degree programs every year, as well as recruit the best prospective students.

This is the second Duke Endowment award with a challenge for Fuqua. In 2018, The Duke Endowment awarded $7 million to the school for an endowed professorship challenge, which ultimately led to $14 million to support Fuqua’s faculty.

“I am thrilled Duke has another opportunity to maximize support for our Fuqua faculty members and students through the generosity of The Duke Endowment,” said Provost Alec D. Gallimore. “The Provost’s Challenge Fund will enable our donors to multiply their gifts and amplify the positive impact that Team Fuqua has in the world.”

Charles C. Lucas III, chair of The Duke Endowment Board of Trustees, agrees.

“The Duke Endowment is honored to continue investing in professorships and scholarships at the Fuqua School of Business, one of America’s premier business education programs. We hope our support will help attract top-tier students and faculty, strengthening Fuqua’s impact nationally and globally.”

Based in Charlotte and established in 1924 by industrialist and philanthropist James B. Duke, The Duke Endowment is a private foundation that strengthens communities in North Carolina and South Carolina by nurturing children, promoting health, educating minds and enriching spirits. Since its founding, it has distributed more than $5 billion in grants. The Endowment shares a name with Duke University and Duke Energy, but all are separate organizations.